Reality
noun
The present is the truth. It is what's going on right now. It is reality.
This is a jukugo word, which usually means on'yomi readings from the kanji. If you know the readings of your kanji you'll know how to read this as well.
これは夢か、現実か？
Is this a dream or real?
まずは、現実を正しく理解することが大切です。
It's important to understand the reality first.
「頼むから、現実を見てくれよ！これはケーキじゃなくてウンチなんだ！」
"For God’s sake, face reality! This isn’t cake, it’s poop!"